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Why Are More People Today Considering Franchising?

January 18, 2022

Why Are More People Today Considering Franchising?

There have been a lot of trends in the labor market, lending, and changes to corporate structures and work policies brought on by the pandemic. As a result, we wanted to take a look at some of the reasons why more people are considering and purchasing franchise businesses today and what we expect that trend to look like moving forward.

Professionals from all walks of life have foregone the decision to return to the traditional workforce. While the majority of franchise owners have previously been mid-level employees, a growing number of senior and outplaced corporate executives are trading their office titles to become franchise owners.

One of the challenges corporations face today is employee ambivalence and distrust as a result of unstable labor conditions brought on by the pandemic. Employees have been reluctant to return to the office under strict environments and job uncertainty. The growing number of people starting new businesses attests to the frustration many workers faced in their jobs as they realized they were neither appreciated nor valued.

Starting a business is challenging and people who spent their careers working on a corporate team are considering franchising as a flexible option that provides the independence of a small business with the structure, certainty, and support of a large business network. Former executives are typically attracted to the structure and freedom franchising provides.

Franchising is beyond product or service. When a potential franchise owner is purchasing a franchise they are buying a business model. A franchise is a proven system that has established brand recognition, profitability, and market share. This is a major factor in why securing financing for buying a franchise business is easier than securing financing for a new business starting from scratch.

Marketing and name recognition are worked into the franchise model. Franchisees benefit from national advertising and public relations on behalf of the brand. For example, when a customer sees national advertising, industry awards, and broadcast TV appearances of College HUNKS Hauling Junk & Moving, the customer will be more inclined to contact their local College HUNKS franchise location to do business with. 

Franchises, on average, have higher profitability with 40 cents of every dollar spent in the US being spent at a franchisee-owned business. Franchise ownership has evolved beyond fast food and quick lube stations. Franchises are becoming more popular in growing industries such as moving and junk removal. Consider this – at College HUNKS, coming in as a new franchise owner, your business is already associated with over 150,000 5-star reviews on Google and instant credibility that would otherwise take years, if not a lifetime, to build as an independent business owner. Having this built-in reputation as you open a new business is invaluable.

As more franchisee-owned businesses emerge, the workforce will be highly employed by locally operated entities versus large corporations. A growing number of employees demand more than a paycheck. They desire a workplace with a community presence that values them and offers a positive work-life balance. Many are attracted to the structure and freedom franchising provides. Coupled with an opportunity to create a workplace that fosters job satisfaction and pride in a job well done, differing from their own corporate experience, franchising will continue to grow as a business alternative and employer choice.

At College HUNKS, we are confident that the journey to business ownership as a HUNK will be fulfilling and that your role as a business owner will provide you opportunities for mentoring tomorrow’s leaders. If you, like many others, are considering franchise ownership as an alternative to returning to the traditional workforce and would like to learn more about what to expect or discuss available franchise opportunities with College HUNKS Hauling Junk & Moving, call us today.